Updated Oct 28, 2024
Seaview Capital Secures $34.5M Refinance Loan For Northridge Multifamily Property
9810 Zelzah Ave
$34,500,000
$222/SF
Building Size
154,838 SF
Asset Type
MultiFamily
Closing
Sep 29, 2022
About this deal
AI
The property involved in this transaction is a multifamily asset located at 9810 Zelzah Ave in Northridge, CA. It consists of 150 units with a total square footage of 154,838. The property is owned by Seaview Capital, a notable landlord in the area.
Summary of transation details
- Property Type: Multifamily
- Transaction Amount: $34,500,000.00
- Loan Type: Refinance
- Loan Terms: 10 year fixed rate, 5 years IO, 3.85%
The loan amount for this transaction is $34,500,000.00. It is a refinance loan with a term of 10 years, featuring a fixed interest rate. The first 5 years of the loan will be interest-only. The interest rate for the loan is 3.85%.
JLL's brokers Marc Schillinger, Max Mraz, and Brooke Hinkel represented the parties involved in this deal. They assisted in securing the loan and facilitating the refinancing process for Seaview Capital.
On the Map
$34,500,000
$222/SF
MultiFamily
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Players
Los Angeles MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.46%
Cash-on-Cash
-0.13%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93